U.S. patent application number 12/134066 was filed with the patent office on 2009-01-01 for consolidated payment options.
This patent application is currently assigned to The Western Union Company. Invention is credited to Matt Bixler, Robert Newton, Dave Owen, Elizabeth Petri, Dean Seifert.
Application Number | 20090006205 12/134066 |
Document ID | / |
Family ID | 40161724 |
Filed Date | 2009-01-01 |
United States Patent
Application |
20090006205 |
Kind Code |
A1 |
Bixler; Matt ; et
al. |
January 1, 2009 |
Consolidated Payment Options
Abstract
A system for making financial transfers between subscribers of a
financial transfer service is disclosed. The system may include a
receiving subscriber interface (RSI), a sending subscriber
interface (SSI), and an agent server (AS). The RSI may be
configured to accept a set of invoice information including an
identifier of a destination account. The SSI may be configured to
accept a set of payment information including an identifier of a
source account. The AS may be configured to receive the set of
invoice information and create an invoice based on the set of
invoice information. The AS may also be configured to transmit the
invoice and receive the set of payment information. The AS may also
be configured to cause an amount of funds to be transferred from
the source account on a source transfer network to the destination
account on a destination transfer network via a primary transfer
network.
Inventors: |
Bixler; Matt; (Denver,
CO) ; Newton; Robert; (San Francisco, CA) ;
Seifert; Dean; (Parker, CO) ; Owen; Dave;
(Castle Rock, CO) ; Petri; Elizabeth; (Littleton,
CO) |
Correspondence
Address: |
TOWNSEND AND TOWNSEND AND CREW, LLP
TWO EMBARCADERO CENTER, EIGHTH FLOOR
SAN FRANCISCO
CA
94111-3834
US
|
Assignee: |
The Western Union Company
Englewood
CO
|
Family ID: |
40161724 |
Appl. No.: |
12/134066 |
Filed: |
June 5, 2008 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
|
|
60946341 |
Jun 26, 2007 |
|
|
|
Current U.S.
Class: |
705/14.36 ;
705/34; 705/40 |
Current CPC
Class: |
G06Q 20/14 20130101;
G06Q 30/0236 20130101; G06Q 30/04 20130101; G06Q 20/10 20130101;
G06Q 40/02 20130101; G06Q 20/102 20130101; G06Q 10/0833
20130101 |
Class at
Publication: |
705/14 ; 705/40;
705/34 |
International
Class: |
G06Q 20/00 20060101
G06Q020/00; G06Q 40/00 20060101 G06Q040/00; G06Q 10/00 20060101
G06Q010/00 |
Claims
1. A system for making financial transfers between subscribers of a
financial transfer service, wherein the system comprises: a
receiving subscriber interface configured to accept a set of
invoice information from a first subscriber, wherein the set of
invoice information includes an identifier of a destination
account; a sending subscriber interface configured to accept a set
of payment information from a second subscriber, wherein the set of
payment information includes an identifier of a source account; and
an agent server, wherein the agent server is configured to: receive
the set of invoice information from the receiving subscriber
interface; create an invoice based at least in part on the set of
invoice information; transmit the invoice to the sending subscriber
interface; receive the set of payment information from the sending
subscriber interface; and cause an amount of funds to be
transferred from the source account on a source transfer network to
the destination account on a destination transfer network via a
primary transfer network.
2. The system for making financial transfers between subscribers of
a financial transfer service of claim 1, wherein the receiving
subscriber interface and the sending subscriber interface comprise
a single interface.
3. The system for making financial transfers between subscribers of
a financial transfer service of claim 1, wherein the agent server
is in more direct communication with the primary transfer network
than the source transfer network or the destination transfer
network.
4. The system for making financial transfers between subscribers of
a financial transfer service of claim 1, wherein the source account
comprises a cash payment received by an agent or a third party.
5. The system for making financial transfers between subscribers of
a financial transfer service of claim 1, wherein the destination
account comprises a cash payment made to the first subscriber by an
agent or a third party.
6. The system for making financial transfers between subscribers of
a financial transfer service of claim 1, wherein the receiving
subscriber interface being configured to accept a set of invoice
information from a first subscriber comprises the receiving
subscriber interface being configured to communicate over a
communication network distinct from the source transfer network,
the destination transfer network, and the primary transfer
network.
7. The system for making financial transfers between subscribers of
a financial transfer service of claim 1, wherein the receiving
subscriber interface is further configured to view a past set of
invoice information and a set of information related to the past
set of invoice information which comprises at least one financial
detail related to the past set of invoice information.
8. The system for making financial transfers between subscribers of
a financial transfer service of claim 1, wherein the amount of
funds transferred from the source account on the source transfer
network to the destination account on the destination transfer
network is based at least in part on a fee rate determined by an
agent and the first subscriber.
9. The system for making financial transfers between subscribers of
a financial transfer service of claim 8, wherein the fee rate is
further determined by a risk score of the first subscriber.
10. The system for making financial transfers between subscribers
of a financial transfer service of claim 1, wherein the set of
invoice information further includes a set of early payment
incentive information, and wherein the set of payment information
further includes a set of early payment incentive instructions.
11. A method for making financial transfers between subscribers of
a financial transfer service, wherein the method comprises:
receiving a set of invoice information from a first subscriber,
wherein the set of invoice information includes an identifier of a
destination account; creating an invoice based at least in part on
the set of invoice information; transmitting the invoice to the
second subscriber; receiving a set of payment information from a
second subscriber, wherein the set of payment information includes
an identifier of a source account; and transferring an amount of
funds from the source account on a source transfer network to the
destination account on a destination transfer network via a primary
transfer network.
12. The method for making financial transfers between subscribers
of a financial transfer service of claim 11, wherein the method
further comprises storing a past set of invoice information and a
set of information related to the past set of information which
comprises at least one financial detail related to the past set of
invoice information.
13. The method for making financial transfers between subscribers
of a financial transfer service of claim 11, wherein the method
further comprises determining a fee rate, and wherein the amount of
funds is based at least in part on the fee rate.
14. The method for making financial transfers between subscribers
of a financial transfer service of claim 13, wherein the fee rate
is determined by a risk score of the first subscriber.
15. The method for making financial transfers between subscribers
of a financial transfer service of claim 11, wherein receiving a
set of invoice information from a first subscriber comprises
receiving a set of early payment incentive information, and wherein
receiving a set of payment information comprises receiving a set of
early payment incentive instructions.
16. The method for making financial transfers between subscribers
of a financial transfer service of claim 15, wherein the set of
early payment incentive instructions comprises an instruction to
satisfy an early payment incentive in the set of early payment
incentive information if an amount saved by satisfying the early
payment incentive is higher than a rate of return on an amount
necessary to satisfy the early payment inventive.
17. A system for making financial transfers between subscribers of
a financial transfer service, wherein the system comprises: a first
means for accepting a set of invoice information from a first
subscriber, wherein the set of invoice information includes an
identifier of a destination account; a second means for accepting a
set of payment information from a second subscriber, wherein the
set of payment information includes an identifier of a source
account; and a third means for causing an amount of funds to be
transferred from the source account on a source transfer network to
the destination account on a destination transfer network via a
primary transfer network.
18. The system for making financial transfers between subscribers
of a financial transfer service of claim 17, wherein the first
means comprises a receiving subscriber interface.
19. The system for making financial transfers between subscribers
of a financial transfer service of claim 17, wherein the second
means comprises a sending subscriber interface.
20. The system for making financial transfers between subscribers
of a financial transfer service of claim 17, wherein the third
means comprises an agent server.
Description
CROSS-REFERENCE TO RELATED APPLICATIONS
[0001] This application claims priority to Provisional U.S. Patent
Application No. 60/946,341 filed Jun. 26, 2007, entitled
"CONSOLIDATED PAYMENT OPTIONS," the entire disclosure of which is
hereby incorporated by reference, for all purposes, as if fully set
forth herein.
BACKGROUND OF THE INVENTION
[0002] This invention relates generally to financial transfers.
More specifically, the invention relates to financial transfers
between subscribers of a financial transfer service.
[0003] Currently, businesses and individuals use two primary
services for transferring funds to other businesses and individuals
across international borders: bank wires and money transfers. Each
of these services carries with it certain disadvantages inherent to
each transaction, and problems to which bank wires and money
transfers are susceptible may also arise in any given
transaction.
[0004] Among the various problems associated with bank wires and
money transfers are the high transaction costs because of the
special nature of such services. These services also may require
multiple days for funds to reach their destination, slowing down
the commerce between parties. Furthermore, in some instances people
may have to travel to a bank or money transfer agent to initiate
and/or complete a transaction.
[0005] When problems with an individual transfer arise, possibly
due to incorrect information being used to initiate transactions,
more travel to and from the bank or money transfer agent may be
necessary to resolve the problems. Bank wires and money transfers
also often involve physical paper receipts, requiring a person to
manually enter the receipt information into other accounting
systems, or at least verify the receipt information is consistent
with information on separate accounting systems.
[0006] Other problems that may exist using traditional transfer
methods include lack of transfer fee transparency; lack of the
transparency in timing of transfers; the need to fill out physical
forms; need to submit information for the same payers and/or payees
repeatedly; and risks associated with having payers know payee bank
information. Embodiments of the invention provide solutions to
these and other problems.
BRIEF DESCRIPTION OF THE INVENTION
[0007] In one embodiment, a system for making financial transfers
between subscribers of a financial transfer service is provided.
The system may include a receiving subscriber interface, a sending
subscriber interface, and an agent server. The receiving subscriber
interface may be configured to accept a set of invoice information
from a first subscriber, where the set of invoice information may
include an identifier of a destination account. The sending
subscriber interface may be configured to accept a set of payment
information from a second subscriber, where the set of payment
information may include an identifier of a source account. The
agent server may be configured to receive the set of invoice
information from the receiving subscriber interface and create an
invoice based at least in part on the set of invoice information.
The agent server may also be configured to transmit the invoice to
the sending subscriber interface and receive the set of payment
information from the sending subscriber interface. The agent server
may further be configured to cause an amount of funds to be
transferred from the source account on a source transfer network to
the destination account on a destination transfer network via a
primary transfer network.
[0008] In another embodiment, a method for making financial
transfers between subscribers of a financial transfer service is
provided. The method may include receiving a set of invoice
information from a first subscriber, where the set of invoice
information may include an identifier of a destination account. The
method may also include creating an invoice based at least in part
on the set of invoice information. The method may further include
transmitting the invoice to the second subscriber. The method may
additionally include receiving a set of payment information from a
second subscriber, where the set of payment information includes an
identifier of a source account. The method may moreover include
transferring an amount of funds from the source account on a source
transfer network to the destination account on a destination
transfer network via a primary transfer network.
[0009] In another embodiment, a system for making financial
transfers between subscribers of a financial transfer service is
provided. The method may include a first means, a second means, and
a third means. The first means may be for accepting a set of
invoice information from a first subscriber, where the set of
invoice information includes an identifier of a destination
account. The first means may include, merely by way of example, a
receiving subscriber interface or any other component disclosed
herein or otherwise known in the art, now and in the future, for
such purposes. The second means may be for accepting a set of
payment information from a second subscriber, where the set of
payment information includes an identifier of a source account. The
second means may include, merely by way of example, a sending
subscriber interface or any other component disclosed herein or
otherwise known in the art, now and in the future, for such
purposes. The third means may be for causing an amount of funds to
be transferred from the source account on a source transfer network
to the destination account on a destination transfer network via a
primary transfer network. The third means may include, merely by
way of example, an agent server or any other component disclosed
herein or otherwise known in the art, now and in the future, for
such purposes.
BRIEF DESCRIPTION OF THE DRAWINGS
[0010] The present invention is described in conjunction with the
appended figures:
[0011] FIG. 1 is a block diagram view of one system of the
invention for making financial transfers between subscribers of a
financial transfer service;
[0012] FIG. 2 is a block diagram of one method of the invention for
making financial transfers between subscribers of a financial
transfer service; and
[0013] FIG. 3 is a block diagram of an exemplary computer system
capable of being used in at least some portion of the apparatuses
or systems of the present invention, or implementing at least some
portion of the methods of the present invention.
DETAILED DESCRIPTION OF THE INVENTION
[0014] The ensuing description provides exemplary embodiments only,
and is not intended to limit the scope, applicability or
configuration of the disclosure. Rather, the ensuing description of
the exemplary embodiments will provide those skilled in the art
with an enabling description for implementing one or more exemplary
embodiments. It being understood that various changes may be made
in the function and arrangement of elements without departing from
the spirit and scope of the invention.
[0015] Specific details are given in the following description to
provide a thorough understanding of the embodiments. However, it
will be understood by one of ordinary skill in the art that the
embodiments may be practiced without these specific details. For
example, circuits, systems, networks, processes, and other
components may be shown as components in block diagram form in
order not to obscure the embodiments in unnecessary detail. In
other instances, well-known circuits, processes, algorithms,
structures, and techniques may be shown without unnecessary detail
in order to avoid obscuring the embodiments.
[0016] Also, it is noted that individual embodiments may be
described as a process which is depicted as a flowchart, a flow
diagram, a data flow diagram, a structure diagram, or a block
diagram. Although a flowchart may describe the operations as a
sequential process, many of the operations can be performed in
parallel or concurrently. In addition, the order of the operations
may be re-arranged. A process is terminated when its operations are
completed, but could have additional steps not included in a
figure. Furthermore, not all operations in any particularly
described process may occur in all embodiments. A process may
correspond to a method, a function, a procedure, a subroutine, a
subprogram, etc. When a process corresponds to a function, its
termination corresponds to a return of the function to the calling
function or the main function.
[0017] The term "machine-readable medium" includes, but is not
limited to portable or fixed storage devices, optical storage
devices, wireless channels and various other mediums capable of
storing, containing or carrying instruction(s) and/or data. A code
segment or machine-executable instructions may represent a
procedure, a function, a subprogram, a program, a routine, a
subroutine, a module, a software package, a class, or any
combination of instructions, data structures, or program
statements. A code segment may be coupled to another code segment
or a hardware circuit by passing and/or receiving information,
data, arguments, parameters, or memory contents. Information,
arguments, parameters, data, etc. may be passed, forwarded, or
transmitted via any suitable means including memory sharing,
message passing, token passing, network transmission, etc.
[0018] Furthermore, embodiments may be implemented by hardware,
software, firmware, middleware, microcode, hardware description
languages, or any combination thereof. When implemented in
software, firmware, middleware or microcode, the program code or
code segments to perform the necessary tasks may be stored in a
machine readable medium. A processor(s) may perform the necessary
tasks.
[0019] In one embodiment of the invention, a system for making
financial transfers between subscribers of a financial transfer
service is provided. Merely by way of example, subscribers may
include any person or entity which uses the financial transfer
service, any person or entity which pays to use the financial
transfer service, and/or any person or entity which is associated
with a service or organization to which the financial transfer
service is made available. In some embodiments, there may be
different levels of subscribers, with different levels of
subscribers being able to access/use and/or not access/use
different sub-services of the financial transfer service. In some
embodiments, non-subscribers may be able to access/use and/or not
access/use different sub-services of the financial transfer
service. Subscribers and enrollment procedures are described in
U.S. Patent Publication No. 2007/0016489, filed Jul. 17, 2006 and
entitled "Systems and Methods for Enrolling Consumers in Goods and
Services," the entire disclosure of which is hereby incorporated by
reference for all purposes.
[0020] In some embodiments, the system may include a receiving
subscriber interface, a sending subscriber interface, and/or an
agent server. In some embodiments, the system may also include a
communication network, a source transfer network, a destination
transfer network, and/or a primary transfer network.
[0021] Subscribers may be contractually engaged by the entity which
controls and/or operates the agent server. In some embodiments,
risk and compliance scores may be determined for each subscriber
(and non-subscribers which use the financial transfer service).
Risk scores may reflect credit worthiness and fraud risk involved
with handling/executing fund transfers for a particular subscriber.
Compliance scores may reflect a particular subscriber's compliance
with the financial transfer service's procedures, and the
subscriber's adherence to contractual obligations with other
subscribers with which fund transfers are exchanged. Risk and
compliance scores may govern the amount and/or the rate at which
the agent server will allow fund transfers to be made through the
system as well as the foreign exchange rate and fee rates granted
to a particular subscriber.
[0022] The receiving subscriber interface may be configured to
accept a set of invoice information from a first subscriber which
will be directed to a second subscriber. In some embodiments, the
receiving subscriber interface may be a web page, possibly
transmitted via a communication network from the agent server to a
computer system associated with the first subscriber. In some
embodiments, merely by way of example, the receiving subscriber
interfaces may be displayed and/or embodied on a personal computer,
a kiosk computer, a mobile phone, a personal data assistance, a
smart phone, an interactive voice response telephony system, and
automotive voice response unit telephony system, etc. The
communication network may, merely by way of example, be the
Internet, an extranet, an intranet, and/or a telephone network. In
other embodiments, the receiving subscriber interface may be a
software program running on a computer system associated with the
first subscriber, and with the computer system possibly in
communication with the agent server over a communication
network.
[0023] The set of invoice information may include an identifier of
a destination account to which payment for any given invoice may be
directed. Merely by way of example, the set of invoice information
may also include a requested amount of funds, a due date, a
description of the goods/services/etc. for which the invoice is
directed, a name of the first subscriber, the name of an entity
associated with the first subscriber, an early payment date, an
incentive for paying by the early payment date, tax costs,
including Value Added Tax, etc.
[0024] The agent server may be configured to receive the set of
invoice information from the receiving subscriber interface and
create an invoice based at least in part on the set of invoice
information. In other embodiments, the receiving subscriber
interface may be configured to create the invoice, and the agent
server may receive the invoice. The invoice may be in any digital
format, and merely by way of example, the digital format may be any
file imported from an accounting system such as an accounts
receivable system (for example, Quickbook.TM., Great Plains.TM.), a
Microsoft.TM. Word.TM. or Excel.TM. file, .rss file, .xml file, or
a .pdf file. In some embodiments, the agent server may be able to
read the file, possibly employing image/character recognition if
necessary. By reading the file, information about how the receiving
subscriber wishes to receive funds may be determined. The agent
server may also be configured to transmit the invoice to the
sending subscriber interface.
[0025] In some embodiments, the agent server may "push" the invoice
to the sending subscriber interface. In other embodiments, the
sending subscriber interface may "pull" the invoice from the agent
server. In yet other embodiments, a combination of "push" and
"pull" methods may be employed. Merely by way of example, if the
sending subscriber interface is active, the agent server may be
configured to detect such a condition and "push" the invoice to the
sending subscriber interface. However, if the sending subscriber
interface is not active, the invoice may be stored on a machine
readable medium associated with the agent server, and await the
sending subscriber interface becoming active. Proximate to the
sending subscriber interface becoming active, the sending
subscriber interface may then "pull" the invoice from the agent
server. In some embodiments, the agent server may be configured to
cause the sending subscriber interface to become active when an
invoice is received and/or created.
[0026] In some embodiments, the invoice may not be delivered to the
sending subscriber interface unless a certain event occurs. In some
embodiments, the event may be a date entered into the receiving
subscriber interface. In other embodiments, the event may be a set
time period after entry of the associated invoice information into
the sending subscriber interface. In yet other embodiments, the
event may be availability, packaging, shipment, and/or performance
of the goods and/or services by the first subscriber. In some
embodiments, the event may be triggered by a third party, rather
than any subscriber. Merely by way of example, a certain
progression of a shipment through a shipper's shipping system. For
example, initial receipt of the shipment at a shipment
facility.
[0027] The sending subscriber interface may be configured to
receive the invoice from the agent server, and/or receive invoice
information passed on from the agent server and create an invoice.
The sending subscriber interface may also be configured to display
the invoice for review by the second subscriber to which the
invoice is directed. In some embodiments, the subscriber interface,
or a system in communication therewith, may be able to import the
invoice or information from the invoice into an accounting system,
for example an accounts payable system (for example, Quickbook.TM.,
Great Plains.TM.).
[0028] The sending subscriber interface may further be configured
to accept a set of payment information from the second subscriber.
In some embodiments, merely by way of example, the sending
subscriber interfaces may be displayed and/or embodied on a
personal computer, a kiosk computer, a mobile phone, a personal
data assistance, a smart phone, a mobile phone, an interactive
voice response telephony system, and automotive voice response unit
telephony system, etc. In some embodiments, the sending subscriber
interface may have at least some portions which are pre-populated
with invoice information (for example, identifiers of destination
accounts). The set of payment information may include an identifier
of a source account or accounts from which funds may be transferred
to satisfy the invoice.
[0029] The set of payment information may also include a date, an
amount, and/or a secondary source account. The secondary source
account may be used to fund a transfer if the primary source
account does not have sufficient funds to satisfy the invoice. The
set of payment information may also have instructions to draw from
multiple sources to satisfy an invoice. In some embodiments,
multiple receivers, or multiple invoices from one or a multiple of
receivers, may be sent funds from one or a multiple of sources. In
these or other embodiments, partial payments may also be supported,
perhaps in proportion to various stages of an associated
transaction being completed. Merely by way of example, 25% may be a
down payment, 50% may be paid on performance/deliver of
services/goods, and 25% may be paid upon certification of the
services/goods. In some embodiments, the set of payment information
may include early payment incentive instructions. In all of these
or other embodiments, recurring payments may also be supported, for
example, utility payments, payroll wages, etc.
[0030] In some embodiments, the early payment incentive
instructions may include a "blanket" rule to satisfy, or not
satisfy, all early payment incentive conditions. In other
embodiments, the early payment incentive instructions may include
conditional rules, whereby early payment incentive conditions will
be satisfied if the conditional rules are satisfied. Merely by way
of example, conditional rules may include whether the source
account has enough funds at a date specified by the early payment
incentive condition, or whether the early payment incentive will be
greater than the financial return on retaining the required funds
for the invoice.
[0031] The set of payment information may also include one or more
conditions, which until met, may cause the agent server to wait to
initiate a funds transfer, or for the payment information to be
transmitted to the agent server. Merely by way of example, a
condition may include sufficient availability of funds in the
source account to satisfy the invoice, confirmation of
availability, packaging, shipment, and/or performance of the goods
and/or services by the first subscriber.
[0032] In some embodiments, both the first subscriber and the
second subscriber may, possibly via either the sending subscriber
interface and/or the receiving subscriber interface, input and save
at the agent server profiles for at least partially similar and/or
repeated transactions. This may allow a sender and/or a receiver to
easily access invoice information and/or payment information for at
least partially similar transactions (possibly due to repeated
transfers between the same parties).
[0033] In some embodiments, both the sending subscriber interface
and the receiving subscriber interface may have different levels of
functionality depending on the user accessing the interface. Merely
by way of example, some users may have viewing privileges, while
other users may have viewing and action initiation privileges.
[0034] The agent server may further be configured to cause an
amount of funds to be transferred from the source account on a
source transfer network to the destination account on a transfer
network via a primary transfer network. In some embodiments, the
source transfer network and the primary transfer network may be the
same network. In other embodiments, the destination transfer
network and the primary transfer network may be the same network.
In yet other embodiments, the source transfer network, the primary
transfer network, and the destination transfer network may all be
the same network.
[0035] Merely by way of example, each of the source transfer
network, the primary transfer network, and/or the destination
transfer network may be an Automated Clearing House ("ACH") network
(which may use a routing number and account number to identify
accounts), a debit network, a bank wire transfer network, a credit
card network, an Automated Teller Machine ("ATM") network, a stored
value network, a prefunded value network, a staged cash payment
network, or a money transfer network such as the Western Union.RTM.
Money Transfer Network. In an exemplary embodiment, the source
transfer network and the source account may be an ACH network and
an associated checking or savings account; the primary transfer
network may be a money transfer network; and the destination
transfer network and destination account may be an ACH network and
an associated checking or savings account. The source account may,
merely by way of example, be any account associated with any of the
above networks, and by more specific example, a savings account, a
checking account, a credit card account, a stored value account, a
prefunded account, and/or an account which includes cash payments
staged for such transactions. In some embodiments, cash payments
for staged transactions may be made by subscribers or others at
agents of financial service providers, or at agents associated with
the financial transfer service.
[0036] In some embodiments, a source interim account may be used by
the first subscriber to route funds from the source account to a
source interim account from which they will be transferred by the
agent server. Likewise, in some embodiments, a destination interim
account may be used by the second subscriber to route funds from
the destination interim account to the destination account after
receipt. Interim accounts are discussed in greater detail in U.S.
patent application Ser. No. 10/295,769, filed Nov. 14, 2002, and
entitled "Systems and Methods for Providing Individual Financial
Access," the entire disclosure of which is hereby incorporated by
reference for all purposes. In embodiments where interim accounts
are employed, subscribers may accrue benefits from use of the
interim account, for example, incentives for use of credit card
accounts.
[0037] In some embodiments, the agent server may transfer the funds
from the source account to an agent account before transferring the
funds to the destination account. In an exemplary embodiment, where
funds are provided by the second subscriber prior to a due date
specified by the first subscriber, and no negative consequences for
the second subscriber will occur, such as delaying of shipment, the
agent account may be employed to hold the funds until a point in
time closer in proximity to the due date. In these embodiments, the
agent account may accrue interest or other financial reward for the
operator of the agent server while the funds are held in the agent
account. These or other escrow features may be employed in some
embodiments. Additional escrowing features are described in U.S.
Pat. No. 7,117,178, issued Oct. 3, 2006 and entitled "Systems and
Methods to Facilitate Payment for Shipped Goods," the entire
disclosure of which is hereby incorporated by reference for all
purposes.
[0038] In some embodiments, the agent server may provide
post-transfer features for both the first subscriber and the second
subscriber. Merely by way of example, the agent server may provide
status of requested fund transfers and/or a history of past
completed fund transfers. The status of a requested fund transfer
may indicate in which transfer network the transfer is currently
proceeding through, which transfer networks the fund transfer has
already moved through, and which transfer networks the fund
transfer has remaining to move through. Other post-transfer and
during-transfer features are described in U.S. Provisional Patent
Application No. 60/946,344, filed Jun. 26, 2007, and entitled
"Methods and Systems for Tracking and Reporting Financial
Transactions," the entire disclosure of which is hereby
incorporated by reference for all purposes.
[0039] In some embodiments, a graphical display, possibly similar
to a map may display for a subscriber at an interface to show the
progress and/or completed or future path of fund transfers, invoice
progress, and/or shipment progress. In these or other embodiments,
any interface discussed herein may be a graphical interface. In
some embodiments, automatic e-mails, short message service
messages, multimedia messaging service messages, instant messages,
automatic voice mail messages, voice dial out, physical mail and
facsimile documents may also be transmitted to subscribers at
various stages and/or completion of fund transfers.
[0040] Turning now to FIG. 1, a system 100 for making financial
transfers between subscribers of a financial transfer service is
shown. Employing system 100, a sender 105 and a receiver 110 may
conduct a fund transfer. Demonstrating operation of system 100
through an example transaction, sender 105 may purchase goods
and/or services from receiver 110, possibly via communication
network 115. Merely by way of example, the transaction may occur
via a communication 120 across the Internet, where the Internet is
the communication network 115. In some embodiments, an agent server
125 may also assist in completing the arrangement of the
transaction for goods and/or services.
[0041] Receiver 110 may then, possibly through a sending subscriber
interface, send invoice information or an invoice to agent server
125 via a communication path 130. Agent server 125 may, if
necessary, assemble the invoice, and then transmit the invoice to
sender 105, possibly specifically to a sending subscriber
interface, via communication path 135. Agent server 125 may derive
certain information from the invoice, or invoice information, to
assist in tracking and/or expecting payment instructions from
sender 105.
[0042] Sender 105 may now have instructions via the invoice for
where payment for the transaction with receiver 110 should be sent.
In this example, receiver 110 may be requesting payment be sent to
destination account 140. Receiver 140 may have access to
destination account 140 as shown by access line 145. In some
embodiments, access to destination account 140 may also be via
communication network 115.
[0043] Similarly, sender 105 may have access to source account 150
as shown by access line 155. In some embodiments, access to source
account 150 may also be via communication network 115. Sender 105
may wish to satisfy the invoice from receiver 110 with funds from
source account 150.
[0044] Sender 105 may then enter payment information, including a
source account identifier and access authorization information into
a sending subscriber interface. The payment information may be
transmitted to agent server 125 via communication path 135.
[0045] Agent server 125 may be part of and/or in communication with
primary transfer network 160. Agent server 125 may access source
account 150 via primary transfer network 160 and source transfer
network 165, where source account 150 resides (or where source
account 150 may be accessed). Primary transfer network 160 may be
in communication 170 with source transfer network 165 via a
communication link 175, which may possibly be a proprietary link
owned and/or established by agent server 125. The agent entity may
negotiate and/or implement communication link 175 in multiple
different countries between there-existing financial networks and
primary transfer network 160 which may, merely by way of example,
be owned and/or operated by the agent or a third party, including
without limitation a government entity. Consequently, agent server
125 may also be configured to conduct currency exchange
calculations. In some embodiments, agent server 125 may allow
sender 105 or any other party to "lock in" a foreign exchange rate,
possibly by directing funds to be transferred to the agent for
immediate conversion, and crediting of an account held for the
party to satisfy future fund transfers. In some embodiments, any
currency exchange may be completed by or with assistance from a
third party
[0046] Agent server 125 may initiate a transfer of funds 180 from
source account 150 to destination account 140. Transfer of funds
180 may occur via a source transfer network 165, communication link
175, primary transfer network 160, another communication link 185,
and destination transfer network 190 where destination account 140
resides (or where destination account 140 may be accessed). In some
embodiments the transfer may occur in that order, while in other
embodiments it may occur in any one of a multitude of other
possible orders.
[0047] Agent server 125 may also be in communication 195 with
destination account 140 via primary transfer network 160,
communication link 185, and destination transfer network 190. In
some embodiments, agent server 125 may employ communication 195 to
verify receipt of funds at destination account 140. Agent server
125 may use access and/or authentication information supplied by
receiver 110 to conduct verifications.
[0048] After and/or during the funds transfer, sender 105 and
receiver 110 may access agent server 125 via communication paths
135, 130 respectively, to determine the status and/or view
historical records related to the transaction. In some embodiments,
agent sever 125 may be configured to allow sender 105 and/or
receiver 110 to cause agent server 125 to modify and/or cancel the
fund transfer.
[0049] Note that the embodiment in FIG. 1 and the example
transaction discussed above is merely exemplary, and those skilled
in the art will now recognize multiple fashions in which system 100
may be employed to conduct fund transfers, including methods which
involve more or fewer components than shown in FIG. 1, possibly as
discussed above and herein, or otherwise. Merely by way of example,
in some embodiments, sender 105 may visit a physical agent operated
or associated location to submit a cash, check, money order,
prepaid or stored value account, debit card, ATM card and/or credit
card payment to the agent, at which point agent server 125 may use
transfer networks to continue the fund transfer electronically.
Likewise, in another example, receiver 110 may come to a physical
agent operated or associated location to receive a cash, check,
money order, prepaid or stored value account, debit card, ATM card
and/or credit card payment, which previously arrived at the
location via electronic means. Cash payment systems are described
in U.S. Pat. No. 6,994,251, issued May 22, 2003 and entitled "Cash
Payment for Remote Transactions," the entire disclosure of which is
hereby incorporated by reference for all purposes.
[0050] FIG. 2 shows one method 200 of the invention for making
financial transfers between subscribers of a financial transfer
service. At block 205, sender 105 and receiver 110 agree to a
transaction, possibly with the assistance of agent server 125.
[0051] At block 210, receiver 110 sends an invoice or invoice
information to agent server 125. At block 215, the agent server
transmits the invoice to sender 105. At block 220, sender 105 may
authorize payment of the invoice, possibly by sending payment
information to agent server 125.
[0052] At block 225, agent server 125 may transmit notification of
the payment authorization to receiver 110. Receiver 110 may use
this notification as enough assurance to proceed with provision of
the goods and/or services agreed to in the transaction.
[0053] At block 230, agent server 125 may initiate a fund transfer
from the source account 150 specified by the sender in the payment
information. At block 235, the funds may be transferred from source
account 150 through source transfer network 165.
[0054] At block 240, the funds may be transferred from source
transfer network 165 to primary transfer network 160. At block 245,
the funds may be transferred from primary transfer network 160 to
destination transfer network 190.
[0055] At block 250, the funds may enter destination account 140
from destination transfer network 190. At block 255, agent server
125 may transmit notification of the final receipt of funds to
sender 105.
[0056] In some embodiments, agent server 125 may also transmit
notification to receiver 1 10. In other embodiments, receiver 110
may receive an independent notification of receipt of funds
directly from an institution associated with destination account
140.
[0057] At block 260, agent server 125 may transmit status and/or
historical information regarding fund transfers to sender 105
and/or receiver 110. This may occur in either a "push" or "pull"
fashion in interaction with either the sending subscriber interface
and/or the receiving subscriber interface.
[0058] FIG. 3 is a block diagram illustrating an exemplary computer
system 500 in which embodiments of the present invention may be
implemented. This example illustrates a computer system 300 such as
may be used, in whole, in part, or with various modifications, to
provide the functions of the sending subscriber interface, the
receiving subscriber interface, the agent server 125, the source
transfer network 165, the primary transfer network 160, the
destination transfer network 190, the communication network 115,
and/or other components of the invention such as those discussed
above. For example, various functions of the agent server 125 may
be controlled by the computer system 300, including, merely by way
of example, transmitting interfaces to the sender 105 and/or
receiver 110, accessing source and destination accounts 150, 140,
reporting fund transfer status to the sender 105 and/or receiver
110, etc.
[0059] The computer system 300 is shown comprising hardware
elements that may be electrically coupled via a bus 390. The
hardware elements may include one or more central processing units
310, one or more input devices 320 (e.g., a mouse, a keyboard,
etc.), and one or more output devices 330 (e.g., a display device,
a printer, etc.). The computer system 300 may also include one or
more storage device 340. By way of example, storage device(s) 340
may be disk drives, optical storage devices, solid-state storage
device such as a random access memory ("RAM") and/or a read-only
memory ("ROM"), which can be programmable, flash-updateable and/or
the like.
[0060] The computer system 300 may additionally include a
computer-readable storage media reader 350, a communications system
360 (e.g., a modem, a network card (wireless or wired), an
infra-red communication device, Bluetooth.TM. device, cellular
communication device, etc.), and working memory 380, which may
include RAM and ROM devices as described above. In some
embodiments, the computer system 300 may also include a processing
acceleration unit 370, which can include a digital signal
processor, a special-purpose processor and/or the like.
[0061] The computer-readable storage media reader 350 can further
be connected to a computer-readable storage medium, together (and,
optionally, in combination with storage device(s) 340)
comprehensively representing remote, local, fixed, and/or removable
storage devices plus storage media for temporarily and/or more
permanently containing computer-readable information. The
communications system 360 may permit data to be exchanged with a
network, system, computer and/or other component described
above.
[0062] The computer system 300 may also comprise software elements,
shown as being currently located within a working memory 380,
including an operating system 384 and/or other code 388. It should
be appreciated that alternate embodiments of a computer system 300
may have numerous variations from that described above. For
example, customized hardware might also be used and/or particular
elements might be implemented in hardware, software (including
portable software, such as applets), or both. Furthermore,
connection to other computing devices such as network input/output
and data acquisition devices may also occur.
[0063] Software of computer system 300 may include code 388 for
implementing any or all of the function of the various elements of
the architecture as described herein. For example, software, stored
on and/or executed by a computer system such as system 300, can
provide the functions of the sending subscriber interface, the
receiving subscriber interface, the agent server 125, the source
transfer network 165, the primary transfer network 160, the
destination transfer network 190, the communication network 115,
and/or other components of the invention such as those discussed
above. Methods implementable by software on some of these
components have been discussed above in more detail.
[0064] The invention has now been described in detail for the
purposes of clarity and understanding. However, it will be
appreciated that certain changes and modifications may be practiced
within the scope of the disclosure.
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